Bid battle looms for French bank

Monday 08 March 1999 01:02 GMT

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

Bid battle looms for French bank

A BID BATTLE is looming for Credit Commercial de France, France's fifth- largest bank. ING, the Dutch financial services giant, was close to securing agreement for a foreign bank's first foothold in France.

However, ING has been outbid by Fortis, the Dutch/Belgian banking group, for the 7.8 per cent stake in CCF put up for sale by Mutuelles Le Mans. It is offering 112.5 euros a share, valuing the bank at 8 billion euros (pounds 5.3bn). ING already has 9 per cent of CCF voting shares.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Stay up to date with notifications from The Independent

Thank you for registering

Bid battle looms for French bank

Join our commenting forum

Thank you for registering